According to the Land Registry, how has the CR2 area evolved?

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Cozee has made a tremendous effort to provide you with the evolution of house prices, flat prices and other types of properties in CR2. In this article we will first present to you how prices have changed over the years and give an overview of what impacts the properties prices in CR2.

What are the factors influencing the property price in CR2?

When it comes to assessing the price of a property we tend to look at 7 main factors. These factors can be economic as well as demographic factors.

Location

We are all aware that the location of a property plays a crucial role in driving up or down the price of a property. Indeed the desirability of the neighbourhood and overall safety of CR2 is key to understanding the price. That is why, when buying or selling a property it is important to have in mind the crime rate of the area.
We recommend that you have a look at Police.uk In CR2, the crime rate is around 64 per thousand people. This rate can be considered as mediumand will have a small impact on the price of a property in CR2. Note: it is important to note that there is not a good correlation between a higher crime rate and the price of a property. If this can have an impact, this is not the only factor. A quick example is in central London. The property price are higher than the rest of the UK but property prices are still high.
Then comes the proximity with different amenities such as schools, hospitals, shopping centres and public transportations. These elements have a significant impact on the price of the property you might want to buy or sell. To help you get an idea of how this could affect the price of a property in CR2 we have summarised these factors in the table below:

Type of amenities Number in CR2
NHS Trusts (hospitals) 0
Practitioners 113
Pharmacies 13
Schools 21
Shopping centres (within a 5mi radius) 6
Public transports (number of train or underground stations) 3 (for more details we recommend that you have a look at tlf

Economic conditions in CR2

In 2023, we are now all aware that the overall economic environment has a consequent impact on the property price. The Office for National Statistics provides a macroeconomic view of these factors.
The employment rate, the income level in CR2 and the overall interest rates will either have a positive or negative impact on the prices you will be able to list your property for or the price you might end up paying. Please find below these indicators provided by the Bank of England and the ONS

Interest rates from the Bank of England over the period 2019-2024 The map below shows you in a very few clicks the income level of around CR2. If you are looking to sell your property this indicator might be very helpful to gauge how much you could ask for. The higher the income is in a certain area, the higher the affordability of the households will be. Finally, on top of the income level, you can also have a look at the employment rate within the neighbourhood of the property you want to buy or sell. The map below shows the percentage of usual residents aged 16 years and over who were economically active and in employment in local authorities, 2011 and 2021. As for the income level, an area with a higher employment rate will most likely fetch higher property prices.

Supply and demand in CR2 and how to assess it

This is a basic economic principle but whenever the supply is low and the demand high, asking prices are growing accordingly and vice versa. This is true in your area. This means that if you are selling a property in a highly demanded area you might be able to benefit from an increase in price due to this principle. To assess the supply and demand of properties for sale in CR2, we recommend you to have a look at the number of listings on Rightmove, Zoopla and other listing platforms

Looking to buy or sell your property in CR2?

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Check how many properties are currently listed and check for how long they have been listed for. This will give you an idea of how long it takes to sell a flat, house or maisonette in your area.

Property size, features and overall state

When it comes to estimate the price of a property in CR2, estate agents are usually estimating the price per square foot. This means that the bigger the property is, the higher the price will reach. NOTE: this price per square foot in CR2 can be impacted by the overall state of the property. A badly maintained property will see a lower price per square foot.
At Cozee we have simplified this for you and we want to provide you with the average price per square foot in your area depending on the property type.

Property Type 2020 2021 2022
Flat £7,318 £4,798 £4,766
House £4,613 £4,684 £4,684
Maisonette £4,449 £4,773 £4,683

Finally a property offering several features will often reach a higher price. This means several bathrooms, a large number of bedrooms and a garden are factors driving the price up.

Browsing the features of your next place in CR2?

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Ongoing or Upcoming developments in CR2

Whenever an area welcomes new developments, it means that the area is attractive and that developers and public decision makers see a growing potential for the area. These developments such as new housing developments but also new train stations and shopping centres can drive the price of a property in CR2 up. We have simplified you the task of finding out how many developments will come up in the coming years in CR2.

Type of development Number of planning applications
Residential 0
Transportation 0
Non residential 0
Planning proposal in progress 0
Green belt 0
Recycling 0
Other applications 0

Note: the applications below are the applications referred to the London Mayor by the local planning authority (usually CR2 ‘s Council planning authority). These applications are for: development proposing more than 150 residential units, buildings over 30m in height or buildings over 1000 square metres on Green belt or Metropolitan Open Land)

Demographic indicators in CR2

One of the last major impacting factors of the price of a property in CR2 will be the demographic indicators.
Population growth being the first. In CR2, over the past years the population has grown between 2011 and 2021 by 3.92% going from 48,467 to 50368. This type of population growth would usually have a positive impact on the price of the property you are trying to buy or sell. Note: if you see an incredible growth, this might either mean that your postcode did not have previous or enough data for 2011.
Finally the population growth is a good indicator for you if you are looking to buy a property with the intention of renting it out. A high population growth is usually a good indicator of how easy a property will be let.

Other factors impact the value of a property in CR2

At last, there are a few other factors that can have an impact on the price of the property you are looking to buy or sell. These additional factors to take into account are as follow:

  • Environmental factors: floods, droughts but also the overall climate.
  • Governmental factors: is there a specific regulation to facilitate/limit the access to property
  • Market trends: some neighbourhoods in London will see a rise in demand some years due to trends or housing booms while in economic turmoils the prices within the same neighbourhood might decrease more significantly

Compare the average property prices in CR2 versus nearby locations

If you are looking to buy or sell in CR2, it might be a good idea to check how the prices are going in nearby neighbourhoods. This will help you get a better idea of the property market in CR2 and help you make an offer or help you set your prices (note: we always recommend to get a professional valuation).

Nearby area Average property price in 2021 Rental prices (pcm) 2022 for a 2 beds Check our properties
SM6 £ 447796 £ 1174 See rental properties in SE20

check our properties for sale in SE20

CR5 £ 541748 £ 1245 See rental properties in SE20

check our properties for sale in SE20

CR7 £ 381238 £ 1253 See rental properties in SE20

check our properties for sale in SE20

SE25 £ 384198 £ 1428 See rental properties in SE20

check our properties for sale in SE20

BR4 £ 627338 £ 1290 See rental properties in SE20

check our properties for sale in SE20

CR0 £ 391501 £ 1243 See rental properties in SE20

check our properties for sale in SE20

How has the cost of property changed in CR2?

In this article, you will be able to find out how the rent and sale prices of properties in CR2 have changed. Please see below these charts showing how the property prices have evolved over time and how the rental prices have changed as well

Looking to buy or sell your property in CR2?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

It is useful to note that as you read this article, you will be able to find the average prices in the graph below that is based solely on data provided by the Land Registry. This means you shouldn’t consider this as an accurate valuation for your property in CR2 at all and only use this information to form an understanding of how the property market has changed in your area and the wider area of London too.
Contact a member of our team for an accurate valuation.

How are the average price for houses, flats and other property calculated in CR2?

In order to calculate the average price for a house, a flat or a maisonette in CR2 we have analysed the Land Registry dataset over the past 12 years. To come up with this average number we calculated the sum of all the prices paid in the area per property type and divided this amount by the number of properties of this specific type.
Let’s take a look at the average price for a House in 2021. In our area there were 477 sold for a total amount of £265,012,614. So when we divide £265,012,614 by 477 we land on an average price of £555,582 for houses in the area.

Why is the average price important when buying or selling your property in CR2?

The average price is here to help you define how much you should be buying a property for or give you an estimate of how much you could sell it for. The average price gives you a very quick overview of the property market in your area. But this does not mean that your property will sell for this price nor should you put an offer for this price. You will have to factor in the specificities of the property you are looking at. Please see below to check in detail the different factors impacting the price.
Before considering buying or selling a property. Cozee recommends that you also have a look at the median price. The median price gives you the price for which 50% of the properties sold in CR2 were sold for a higher price and 50% of the properties were sold for a lower price.
For example in CR2 in 2019 there were 247 Flat sold. The median price was £280,000. This means that 50% of the Flat sold in 2019 were sold for more than £280,000 and also that 50% of them were sold for less than £280,000.
Finally if you want a clear picture of how much your property is worth, our team of experts at Cozee are here to help. Their knowledge of the area is a guarantee of quality as they are connected to today’s market in CR2.

Looking to buy or sell your property in CR2?

Our property experts give you a valuation in less than 24h or help you find the properties you have been dreaming of

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